THE PORT AUTHORITY OF NY & NJ

Press Release Article

PORT AUTHORITY SETS AIR TRAVEL RECORDS FOR THE FIRST HALF OF 2016

Date: Aug 23, 2016Press Release Number: 149-2016

New York Area Airports Grew at a 6.3-Percent Rate, Welcoming 62.4 Million Passengers During the Six-Month Period

Passenger traffic at the nation’s busiest airport system grew at a strong 6.3-percent rate over the first six months of 2016, with a record-setting 62.4 million travelers using Port Authority’s airports during that period.

The airports demonstrated robust growth in both the domestic and international sectors, with domestic passenger traffic growing 6.7 percent and international travelers increasing by 5.5 percent versus the same six-month period in 2015.

The record numbers, which support greater economic activity and job creation throughout the region, are attributed to lower ticket prices -- nearly 6 percent below the same period last year as a result of more competition among international carriers as well as lower jet fuel costs and increased airline seat capacity.

John F. Kennedy International, Newark Liberty International and LaGuardia airports each set individual passenger records in the first half of 2016. Passenger traffic at JFK reached 28 million passengers, Newark served 19.3 million passengers and LaGuardia had 14.3 million passengers during that period. Passenger traffic at Atlantic City International Airport grew 1.6 percent.

“The sustained growth of our airports highlights their role as vital and vibrant business and tourism gateways for tens of millions of travelers each year,” Port Authority Aviation Director Thomas L. Bosco said. “This record-setting performance supports all the reasons why our agency remains committed to modernizing our airports in order to best serve our customers and accommodate future growth.”

The Port Authority airports have been the focus of a multi-billion-dollar capital investment and redevelopment program that includes $2.3 billion for Newark Airport’s Terminal A, a project expected to generate $3.3 billion in regional economic activity overall, creating 9,000 jobs and providing $600 million in wages.

Additionally, the new LaGuardia Airport Redevelopment Program – which is expected to support 18,200 jobs, generate $1.3 billion in wages and $5.2 billion in economic activity – includes an innovative public-private partnership with LaGuardia Gateway Partners for a total fixed cost of $4.015 billion to design, build, finance, operate and maintain a new Terminal B.

Recently, Delta Air Lines, Inc. partnered with the Port Authority to replace Terminals C and D at LaGuardia Airport, marking the second phase of the airport’s redevelopment and modernization program. This project, with an estimated cost of $4 billion overall, will be financed primarily by Delta, which will perform the construction and be responsible for any cost overruns. The Port Authority’s investment in construction, supporting infrastructure and related costs is capped at $600 million, with the agency not responsible for any cost overruns.

Contact:The Port Authority of New York and New Jersey212-435-7777

Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency’s network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where construction crews are building the iconic One World Trade Center, which is now the tallest skyscraper in the Western Hemisphere. The Port Authority receives no tax revenue from either the State of New York or New Jersey or from the City of New York. The agency raises the necessary funds for the improvement, construction or acquisition of its facilities primarily on its own credit. For more information, please visit http://www.panynj.gov.